A 120 metric ton telescoping crane that cost $320,000 is owned by Upper State Power. Salvage...

A 120 metric ton telescoping crane that cost $320,000 is owned by Upper State Power. Salvage is estimated at $75,000. Compare book values for MACRS, DDB and standard SL depreciation over a 7-year recovery period.

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A machine that cost SAR 320,000 is owned by a cement factory. Salvage is estimated at...

A machine that cost SAR 320,000 is owned by a cement factory. Salvage is estimated at SAR 75,000. Compare book values for MACRS, DB (20%), DDB and standard SL depreciation over a 7-year recovery period.

A drilling machine that cost $320,000 is owned by Alpha Beta Oil, Inc. Salvage is estimated...

A drilling machine that cost $320,000 is owned by Alpha Beta Oil, Inc. Salvage is estimated at $75,000. (a) Compare book values for MACRS and standard SL depreciation over a 7-year recovery period. (b) Explain how the estimated salvage is treated using MACRS

A purchased machine cost $320,000 with delivery and installation charges amounting to $30,000. The declared salvage...

A purchased machine cost $320,000 with delivery and installation charges amounting to $30,000. The declared salvage value was $50,000. Early in Year 3, the company changed its product mix and found that it no longer needed the machine. One of its com- petitors agreed to buy the machine for $180,000. Determine the loss, gain, or recapture of MACRS depreciation on the sale. The ADR is 12 years for this machine.

Crane Company applies overhead on the basis of 120% of direct labor cost. Job No. 190...

Crane Company applies overhead on the basis of 120% of direct labor cost. Job No. 190 is charged with $350000 of direct materials costs and $150000 of manufacturing overhead. The total manufacturing costs for Job No. 190 is $500000. $570000. $625000. $680000.

Presented below is information related to equipment owned by Crane Company at December 31, 2020. Cost...

Presented below is information related to equipment owned by Crane Company at December 31, 2020. Cost $9,090,000 Accumulated depreciation to date 1,010,000 Expected future net cash flows 7,070,000 Fair value 4,848,000 Assume that Crane will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years. Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020. (If no entry is required,...

Exercise 11-9 Presented below is information related to Crane Manufacturing Corporation. Asset Cost Estimated Salvage Estimated...

Exercise 11-9 Presented below is information related to Crane Manufacturing Corporation. Asset Cost Estimated Salvage Estimated Life (in years) A $48,195 $6,545 10 B 39,984 5,712 9 C 42,840 4,284 9 D 22,610 1,785 7 E 27,965 2,975 6 Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, e.g. 4.83%.) Composite rate %

The French government announced plans to convert state-owned power firms EDF and GDF into separate limited...

The French government announced plans to convert state-owned power firms EDF and GDF into separate limited companies that operate in geographically distinct markets. BBC News reported that France’s CFT union responded by organizing a mass strike, which triggered power outages in some Paris suburbs. Union workers are concerned that privatizing power utilities would lead to large-scale job losses and power outages similar to those experienced in parts of the eastern coast of the United States and parts of Italy in...

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